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Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2019

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Share-based Payment Arrangement, Cost by Plan [Table Text Block]

We measure the cost of all share-based payments, including stock options, at fair value on the grant date and recognize this cost in the Consolidated Statement of Operations, net of expected forfeitures, as follows:


(dollars in millions)			2019						2018						2017

Total compensation cost recognized			$	268					$	169					$	129

Schedule of Stock Options Roll Forward [Table Text Block]

A summary of the transactions under all long-term incentive plans for the year ended December 31, 2019 follows. The amounts in the tables and paragraphs below have not been recast for discontinued operations.


			Stock Options																		Stock Appreciation Rights																		Performance Share Units																		Other Incentive Shares/Units
(shares and units in thousands)			Shares						Average Price ⁽¹⁾						Shares						Average Price ⁽¹⁾						Units						Average Price ⁽¹⁾
Outstanding at:
December 31, 2018			1,603						$	99.89					32,066						$	99.95					1,806						$	110.41					3,047
Granted			339						124.72						8,081						123.54						839						121.22						1,223
Ancillary ⁽²⁾			—						—						—						—						101						95.28						—
Exercised / earned			(317)						88.61						(6,843)						84.44						(758)						95.28						(816)
Cancelled			(57)						121.69						(591)						122.76						(69)						118.21						(135)

December 31, 2019			1,568						$	106.75					32,713						$	108.61					1,919						$	120.04					3,319

(1) Weighted-average grant / exercise price.

(2) Ancillary shares earned based on actual performance achieved on the 2016 award.

Disclosure Of Share Based Compensation Arrangements By Share Based Payment Award Text Block

The following table summarizes information about equity awards outstanding that are vested and expected to vest as well as equity awards outstanding that are exercisable at December 31, 2019:


						Equity Awards Vested and Expected to Vest																																										Equity Awards That Are Exercisable
(shares in thousands; aggregate intrinsic value in millions)						Awards						Average Price ⁽¹⁾						Aggregate Intrinsic Value						Remaining Term ⁽²⁾						Awards						Average Price ⁽¹⁾						Aggregate Intrinsic Value						Remaining Term ⁽²⁾
Stock Options/Stock Appreciation Rights						33,769						$	107.58					$	1,424					5.9 years						19,285						$	96.56					$	1,026					4.0 years
Performance Share Units/Restricted Stock						5,514						—						826						2.1 years

(1) Weighted-average exercise price per share.

(2) Weighted-average contractual remaining term in years.

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

The following table indicates the assumptions used in estimating fair value for the years ended December 31, 2019, 2018 and 2017. Lattice-based option models incorporate ranges of assumptions for inputs; those ranges are as follows:


						2019						2018						2017
Expected volatility						18.8% - 19.7%						17.5% - 21.1%						19		%
Weighted-average volatility						20		%				18		%				19		%
Expected term (in years)						6.5 - 6.6						6.5 - 6.6						6.5
Expected dividend yield						2.4		%				2.2		%				2.4		%
Risk-free rate						2.3% - 2.7%						1.3% - 2.7%						0.5% - 2.5%

Pension Plan [Member]

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Schedule of Defined Benefit Plans Disclosures [Text Block]


(dollars in millions)			2019						2018
Change in Benefit Obligation:
Beginning balance			$	34,344					$	33,283
Service cost attributable to continuing operations			261						265
Service cost attributable to discontinued operations			34						40
Interest cost			1,245						1,058
Actuarial loss (gain)			4,247						(1,938)
Total benefits paid			(2,016)						(1,783)
Net settlement, curtailment and special termination benefits			(206)						(14)
Plan amendments			—						56
Business combinations			(6)						3,694
Other			124						(317)
Ending balance			$	38,027					$	34,344

Change in Plan Assets:
Beginning balance			$	32,150					$	32,205
Actual return on plan assets			5,873						(1,516)
Employer contributions			137						156
Benefits paid			(2,016)						(1,783)
Settlements			(17)						(16)
Business combinations			(10)						3,355
Other			108						(251)
Ending balance			$	36,225					$	32,150

Funded Status:
Fair value of plan assets			$	36,225					$	32,150
Benefit obligations			(38,027)						(34,344)
Funded status of plan			$	(1,802)					$	(2,194)

Amounts Recognized in the Consolidated Balance Sheet Consist of:
Noncurrent assets			$	19					$	157
Current liability			(51)						(56)
Noncurrent liability			(1,770)						(2,295)
Net amount recognized			$	(1,802)					$	(2,194)

Amounts Recognized in Accumulated Other Comprehensive Loss Consist of:
Net actuarial loss			$	8,160					$	7,948
Prior service cost			190						130
Net actuarial loss and prior service cost related to discontinued operations			763						667
Net amount recognized			$	9,113					$	8,745

Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets [Table Text Block]

Information for pension plans with accumulated benefit obligations in excess of plan assets:


(dollars in millions)			2019						2018
Projected benefit obligation			$	37,941					$	24,796
Accumulated benefit obligation			37,599						24,471
Fair value of plan assets			36,120						22,558

Defined Benefit Plan, Plan with Projected Benefit Obligation in Excess of Plan Assets [Table Text Block]

Information for pension plans with projected benefit obligations in excess of plan assets:


(dollars in millions)			2019						2018
Projected benefit obligation			$	37,943					$	27,225
Accumulated benefit obligation			37,600						26,752
Fair value of plan assets			36,122						24,873

Schedule of Net Benefit Costs [Table Text Block]

The components of the net periodic pension benefit are as follows:


(dollars in millions)			2019						2018						2017
Pension Benefits:
Service cost			$	261					$	265					$	268
Interest cost			1,245						1,058						1,043
Expected return on plan assets			(2,252)						(2,061)						(2,033)
Amortization of prior service cost (credit)			16						(42)						(37)

Recognized actuarial net loss			245						373						550
Net settlement, curtailment and special termination benefits (gain) loss			(59)						3						3
Net periodic pension benefit - employer			$	(544)					$	(404)					$	(206)

Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block]

Other changes in plan assets and benefit obligations recognized in other comprehensive loss in 2019 are as follows:


(dollars in millions)			Continuing Operations						Discontinued Operations						Total
Current year actuarial loss			$	434					$	119					$	553
Amortization of actuarial loss			(245)						(20)						(265)
Current year prior service cost			—						6						6
Amortization of prior service cost			(16)						(1)						(17)
Net settlement and curtailment			62						(5)						57
Other			36						(2)						34
Total recognized in other comprehensive loss			$	271					97						$	368
Net recognized in net periodic pension benefit and other comprehensive loss			$	(232)					97						$	(135)

Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year [Table Text Block]

The estimated amount that will be amortized from accumulated other comprehensive loss into net periodic pension (benefit) cost in 2020 is as follows:


(dollars in millions)
Net actuarial loss			$	336
Prior service cost			49
			$	385

Defined Benefit Plan, Assumptions [Table Text Block]

Major assumptions used in determining the benefit obligation and net cost for pension plans are presented in the following table as weighted-averages:


						Benefit Obligation																		Net Cost
						2019						2018						2019						2018						2017
Discount rate
PBO						3.1		%				4.0		%				4.0		%				3.5		%				3.9		%
Interest cost ⁽¹⁾						—						—						3.7		%				3.1		%				3.3		%
Service cost ⁽¹⁾						—						—						3.7		%				3.4		%				3.8		%
Salary scale						4.3		%				4.3		%				4.3		%				4.3		%				4.3		%
Expected return on plan assets						—						—						6.8		%				6.9		%				7.4		%

(1) The discount rates used to measure the service cost and interest cost applies to our significant plans. The PBO discount rate is used for the service cost and interest cost measurements for non-significant plans.

Schedule of Allocation of Plan Assets [Table Text Block]

The fair values of pension plan assets at December 31, 2019 and 2018 by asset category are as follows:


(dollars in millions)			Quoted Prices in Active Markets For Identical Assets (Level 1)						Significant Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)						Not Subject to Leveling						Total
Asset Category:
Public Equities
Global Equities			$	3,588					$	5					$	—					$	—					$	3,593
Global Equity Commingled Funds ⁽¹⁾			—						1,496						—						—						1,496
Enhanced Global Equities⁽²⁾			322						393						—						—						715
Global Equity Funds at net asset value ⁽⁸⁾			—						—						—						5,332						5,332
Private Equities^(3),(8)			—						—						202						1,230						1,432
Fixed Income Securities
Governments			969						116						—						—						1,085
Corporate Bonds			1						13,059						5						—						13,065
Structured Products			—						17						—						—						17
Fixed Income Securities ⁽⁸⁾			—						—						—						4,755						4,755
Real Estate^(4),(8)			—						13						1,464						366						1,843
Other^(5),(8)			—						343						—						2,834						3,177
Cash & Cash Equivalents^(6),(8)			—						47						—						36						83
Subtotal			$	4,880					$	15,489					$	1,671					$	14,553					36,593
Other Assets & Liabilities ⁽⁷⁾																											(368)
Total at December 31, 2019																											$	36,225
Public Equities
Global Equities			$	2,917					$	4					$	—					$	—					$	2,921
Global Equity Commingled Funds ⁽¹⁾			185						219						—						—						404
Enhanced Global Equities⁽²⁾			79						605						—						—						684
Global Equity Funds at net asset value ⁽⁸⁾			—						—						—						6,539						6,539
Private Equities^(3),(8)			—						—						133						1,194						1,327
Fixed Income Securities
Governments			1,789						162						—						—						1,951
Corporate Bonds			—						11,526						18						29						11,573

Fixed Income Securities ⁽⁸⁾			—						—						—						2,225						2,225
Real Estate^(4),(8)			—						13						1,387						409						1,809
Other^(5),(8)			—						262						—						2,368						2,630
Cash & Cash Equivalents^(6),(8)			—						220						—						100						320
Subtotal			$	4,970					$	13,011					$	1,538					$	12,864					32,383
Other Assets & Liabilities ⁽⁷⁾																											(233)
Total at December 31, 2018																											$	32,150

(1) Represents commingled funds that invest primarily in common stocks.

(2) Represents enhanced equity separate account and commingled fund portfolios. A portion of the portfolio may include long-short market neutral and relative value strategies that invest in publicly traded, equity and fixed income securities, as well as derivatives of equity and fixed income securities and foreign currency.

(3) Represents limited partner investments with general partners that primarily invest in debt and equity.

(4) Represents investments in real estate including commingled funds and directly held properties.

(5) Represents insurance contracts and global balanced risk commingled funds consisting mainly of equity, bonds and some commodities.

(6) Represents short-term commercial paper, bonds and other cash or cash-like instruments.

(7) Represents trust receivables and payables that are not leveled.

(8) In accordance with ASU 2015-07, Fair Value Measurement (Topic 820), certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented for the total pension benefits plan assets.

Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets [Table Text Block]

The fair value measurement of plan assets using significant unobservable inputs (Level 3) changed due to the following:


(dollars in millions)									Private Equities						Corporate Bonds						Real Estate						Total
Balance, December 31, 2017									$	46					$	—					$	1,446					$	1,492
Plan assets acquired									—						33						—						33
Realized (losses) gains									—						(1)						10						9
Unrealized gains relating to instruments still held in the reporting period									—						2						38						40
Purchases, sales, and settlements, net									87						(16)						(107)						(36)
Balance, December 31, 2018									133						18						1,387						1,538

Realized losses									—						—						(2)						(2)
Unrealized gains relating to instruments still held in the reporting period									32						—						27						59
Purchases, sales, and settlements, net									37						(13)						52						76
Balance, December 31, 2019									$	202					$	5					$	1,464					$	1,671

Other Postretirement Benefits Plan [Member]

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Schedule of Defined Benefit Plans Disclosures [Text Block]


(dollars in millions)			2019						2018
Change in Benefit Obligation:
Beginning balance			$	810					$	767
Service cost			2						2
Interest cost			31						26
Actuarial gain			(11)						(52)
Total benefits paid			(69)						(70)
Business combinations			—						186
Plan amendments			—						(43)
Other			2						(6)
Ending balance			$	765					$	810

Change in Plan Assets:
Beginning balance			$	20					$	—

Employer contributions			69						69
Benefits paid			(69)						(70)
Business combinations			—						20
Other			—						1
Ending balance			$	20					$	20

Funded Status:
Fair value of plan assets			$	20					$	20
Benefit obligations			(765)						(810)
Funded status of plan			$	(745)					$	(790)

Amounts Recognized in the Consolidated Balance Sheet Consist of:
Current liability			$	(47)					$	(61)
Noncurrent liability			(698)						(729)
Net amount recognized			$	(745)					$	(790)

Amounts Recognized in Accumulated Other Comprehensive Loss Consist of:
Net actuarial gain			$	(181)					$	(184)
Prior service credit			(4)						(47)
Net amount recognized			$	(185)					$	(231)

Schedule of Net Benefit Costs [Table Text Block]

The components of net periodic benefit cost are as follows:


(dollars in millions)			2019						2018						2017
Other Postretirement Benefits:
Service cost			$	2					$	2					$	2
Interest cost			31						26						29
Expected return on plan assets			(1)						—						—
Amortization of prior service credit			(42)						(6)						(1)
Recognized actuarial net gain			(12)						(10)						(9)

Net periodic other postretirement (benefit) cost			$	(22)					$	12					$	21

Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block]

Other changes in plan assets and benefit obligations recognized in other comprehensive loss in 2019 are as follows:


(dollars in millions)
Current year actuarial gain			$	(10)

Amortization of prior service credit			42
Amortization of actuarial net gain			12
Other			2
Total recognized in other comprehensive loss			$	46
Net recognized in net periodic other postretirement benefit cost and other comprehensive loss			$	24

Defined Benefit Plan, Assumptions [Table Text Block]

Major assumptions used in determining the benefit obligation and net cost for postretirement plans are presented in the following table as weighted-averages:


			Benefit Obligation																		Net Cost
			2019						2018						2019						2018						2017
Discount rate			3.0		%				4.1		%				4.0		%				3.4		%				3.8		%
Expected return on assets			—						—						7.0		%				7.0		%				N/A

Schedule of Health Care Cost Trend Rates [Table Text Block]

Assumed health care cost trend rates are as follows:


			2019						2018
Health care cost trend rate assumed for next year			6.5		%				7.0		%
Rate that the cost trend rate gradually declines to			5.0		%				5.0		%
Year that the rate reaches the rate it is assumed to remain at			2026						2026

Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates [Table Text Block]

A one-percentage-point change in assumed health care cost trend rates would have the following effects:


			2019 One-Percentage-Point
(dollars in millions)			Increase						Decrease
Effect on total service and interest cost			$	1					$	(1)
Effect on postretirement benefit obligation			25						(22)